Prolexus Bhd (PRLEXUS, 8966)

• PRLEXUS closed 3.5% or 4 sen higher to RM1.18 yesterday.

• PRLEXUS is attempting to break its immediate resistance of RM1.18 with higher volume yesterday suggesting stronger buying force. Positive cross over of moving averages lines (SMA20 > SMA50) of late reinforces stronger buying momentum ahead, potentially driving share price to higher level.

• Should it able to break RM1.18 level, next resistance levels are projected at RM1.24 (R1) and further to RM1.38 (R2).

• Conversely, support levels are set at RM1.07 (R1) and next at RM1.00 (S2).

Source: Rakuten Research - 27 Apr 2021